US M&A Deals Announced February 07 to 13, 2020 | | | |
Target | Acquirer | Value ($millions) | Synopsis |
Taubman Centers Inc | Simon Property Group LP | 3,233.6 | Simon Property Group LP (Simon), a unit of Simon Property Group Inc, definitively agreed to acquire the entire share capital of Taubman Centers Inc, a Bloomfield Hills-based lessor of real estate property, for $ 52.5 in cash per share, or a total value of $ 3.234 billion. Concurrently, Simon definitively agreed to acquire a 10% stake in Taubman Realty Group LP from Taubman Family. |
FGL Holdings | Fidelity National Financial | 2,843.0 | Fidelity National Financial Inc (FNF) definitively agreed to acquire the remaining 92.382% interest, or 204.911 million common shares, which it did not already own, in FGL Holdings (FG), a Des Moines-based insurance holding company, for a total $ 2. 843 billion. The consideration was to consist of a choice of $ 12.5 in cash per share or 0.2558 common share per FG share, subject to proration whereby 60% of the total consideration was to be paid in cash and the remaining 40% in common shares. The shares were valued based on FNF's closing stock price of $ 49. 04 on 6 February 2020, the last full trading day prior to the announcement. Upon completion, FNF and FG shareholders were to own 93% interest and 7% stake in the merged entity, respectively. Originally, FNF was rumored to be planning to acquire the entire share capital of FG. |
PF2 SpinCo Inc | Change Healthcare Inc | 2,837.0 | Change Healthcare Inc (Change) agreed to merge with PF2 SpinCo Inc (SpinCo), an Irving-based provider of data processing and hosting services, from McKesson Corp, in exchange for 175.995 million in Change common shares valued at $ 2.837 bil, in a stock swap reverse takeover transaction. The shares were valued based on Change's closing stock price of $ 16. 12 on 7 February 2020, the last full trading day prior to the transaction. Upon completion, Change and SpinCo were to own 49% and 51% respectively, in the merged entity. The transaction is tax exempt under IRC s368. |
Stericycle Inc-Env Business | Harsco Corp | 462.5 | Harsco Corp agreed to acquire domestic environmental solutions business of Stericycle Inc, a Lake Forest-based provider of solid waste collection services, for an estimated $ 462.5 million in cash. |
DocuTech LLC | First American Title Ins Co | 350.0 | First American Title Insurance Co, a unit of First American Corp, agreed to acquire DocuTech LLC, an Idaho Falls-based software publisher, for a total $ 350 mil. |
SCA Performance Inc | Fox Factory Inc | 341.0 | Fox Factory Inc, a unit of Fox Factory Holding Corp, agreed to acquire the entire share capital of SCA Performance Inc, a Trussville-based manufacturer of industrial load moving machinery, from Kinderhook Industries LLC, for $ 341 mil. |
American Steamship Co | Rand Logistics Inc | 260.0 | Rand Logistics Inc, a unit of American Industrial Partners LP, agreed to acquire the entire share capital of American Steamship Co, a Williamsville-based provider of water freight transportation services, from GATX Corp, for a total $ 260 mil. |
Park Tower,CA | Prime US REIT | 165.5 | Prime US REIT of Singapore, a unit of KBS US Prime Property Management Pte Ltd, agreed to acquire Park Tower, a Sacramento-based lessor of nonresidential buildings, from GV/HI Park Tower Owner LLC, for a total $ 165.5 mil. |
Char Software Inc | Upland Software Inc | 67.7 | Upland Software Inc acquired Char Software Inc, a Boston-based software publisher, for a total $ 67. 7 million in cash. |
Prive Revaux | Safilo Group SpA | 67.5 | Safilo Group SpA of Italy acquired a 61.34% interest in Prive Goods LLC, a Miami-based optical goods retailer, from TSG Consumer Partners LLC, for a total $ 67.5 mil, in a privately negotiated transaction. |
Mobile Posse Inc | Digital Turbine Inc | 66.0 | Digital Turbine Inc defintively agreed to acquire Mobile Posse Inc, a Mc Lean-based software publisher, for a total $ 66 million. The consideration was to consist of $ 41.5 million cash plus up to $ 24.5 million in profit- related payments. Upon completion, Mobile Posse will become known as Digital Turbine. |
Fountainhead Corporate Park,AZ | Jones Lang LaSalle Income | 61.5 | Jones Lang LaSalle Income Property Trust Inc acquired Fountainhead Corporate Park, a Tempe-based lessor of nonresidential buildings, for a total $ 61. 5 mil. |
Ventanex Ltd | Repay Hldg Corp | 50.0 | Repay Holdings Corp planned to acquire Ventanex Ltd, a San Antonio-based provider of financial transactions services, for a total $ 50 mil. |
Starin Marketing Inc | Midwich Group PLC | 46.1 | Midwich Group PLC of the UK acquired Starin Marketing Inc, a Chesterton-based provider of marketing consulting services, for a total $ 46.1 million. The consideration consisted of $ 27.1 million cash plus $ 19 million debt. |
Qumu Corp | Synacor Inc | 33.4 | Synacor Inc (Synacor) agreed to merge with Qumu Corp (Qumu), a Minneapolis-based manufacturer of recording media, for a total $ 33.386 mil, in a stock swap transaction. Synacor offered 1.61 common share for every Qumu share held. Based on Synacor's closing stock price of $ 1.53 on 10 February 2020, the last full trading day prior to the announcement, each Qumu share was valued at $ 2.463. Upon completion, Synacor and Qumu were to hold 64.4% and 35.6% in the merged entity, respectively. |
Valeritas Holdings-Business | Zealand Pharma A/S | 23.0 | Zealand Pharma A/S of Denmark agreed to acquire business of the bankrupt Valeritas Holdings Inc, a Bridgewater-based medical equipment and supplies merchant wholesaler, for a total $ 23 million in cash. |
Edon Bancorp Inc,Edon,OH | SB Financial Group Inc | 15.5 | SB Financial Group Inc definitively agreed to merge with Edon Bancorp Inc, an Edon-based commercial bank, for $ 103.50 in cash per share, or an estimated $ 15. 5 mil. |
Evans & Sutherland Computer | Elevate Entertainment Inc | 14.4 | Elevate Entertainment Inc, a unit of Mirasol Capital LLC, definitively agreed to merge with Evans & Sutherland Computer Corp (ES), a Salt Lake City-based manufacturer of visual display systems, for $ 1.19 in cash per share, or a total value of $ 14.428 mil, via tender offer. The offer was conditional upon at least 51. 1% of ES' common shares being tendered. |
Harmony Products LLC | Abacus Wellness Inc | 5.5 | Abacus Wellness Inc of Canada, a unit of Abacus Health Products Inc, acquired Harmony Products LLC, a West Valley City-based drugs merchant wholesaler, for a total $ 5.501 mil. |
React Presents LLC | LiveXLive Media Inc | 2.0 | LiveXLive Media Inc acquired React Presents LLC, a Los Angeles-based event promoter, for a total $ 2 mil. |
Zingfit LLC | Advent International Corp | | Advent International Corp acquired Zingfit LLC, a Louisville-based reproducer of software, in a leveraged buyout transaction. |
Headlights 101 Inc | All Star Auto Lights | | All Star Auto Lights, a unit of Atlantic Street Capital Management LLC, acquired Headlights 101 Inc, a Fayetteville-based manufacturer of vehicular lighting equipment. |
Oilfield Basics Llc | Amer Energy Partners Inc | | American Energy Partners Inc definitively agreed to acquire the entire share capital of Oilfield Basics LLC, a Marietta-based trade school operator, in a stock swap transaction. |
Annaly Management Co LLC | Annaly Capital Management Inc | | Annaly Capital Management Inc definitively agreed to acquire the entire share capital of Annaly Management Co LLC, a New York-based real estate agency, for a nominal consideration, for a nominal consideration of $ 1 per share. |
Cadence Education Inc | Apax Partners LLP | | Apax Partners LLP of the UK agreed to acquire Cadence Education Inc, a Scottsdale-based school operator, from Morgan Stanley Global Private Equity, ultimately owned by Morgan Stanley, in a leveraged buyout transaction. Financial terms of the transaction were not disclosed. |
rDialogue Inc | Bond Brand Loyalty Inc | | Bond Brand Loyalty Inc of Canada acquired rDialogue Inc, an Atlanta-based advertising agency. |
Media Services | Cast & Crew Ent Svcs LLC | | Cast & Crew Entertainment Services LLC, a unit of EQT VIII, planned to acquire Media Services, a Los Angeles-based provides record payroll services. Terms were not disclosed. |
Dynamic Internet Solution LLC | Colyar Tech Solutions LLC | | Colyar Technology Solutions LLC, a unit of Castle Harlan Inc, acquired Dynamic Internet Solution LLC, a Glendale-based wired telecommunications carrier. Terms were not disclosed. |
Coml Laundry Equip Co Inc | EVI Industries Inc | | EVI Industries Inc definitively agreed to acquire the entire share capital of Commercial Laundry Equipment Co Inc, a Richmond-based service establishment equipment and supplies merchant wholesaler. Terms were not disclosed. |
Highwater Wealth Mgmt Llc | Frontier Wealth Mgmt Llc | | Frontier Wealth Management LLC acquired Highwater Wealth Management LLC, a Glendale-based portfolio manager. |
Outbox Systems Inc | Infosys Ltd | | Infosys Ltd of India definitively agreed to acquire Outbox Systems Inc, a Salt Lake City-based internet service provider. |
WBT LLC | nVent Electric PLC | | nVent Electric PLC acquired the entire share capital of WBT LLC, a Centralia-based electrical contractor. |
First Pac Advisors LLC-Intl | Polar Capital Partners Ltd | | Polar Capital Partners Ltd of the UK planned to acquire international value & world value strategies of First Pacific Advisors LLC, a Los Angeles-based portfolio manager, ultimately owned by Angeles Corp. |
Trident Beverage Inc | Ronnoco Coffee LLC | | Ronnoco Coffee LLC, a unit of Huron Capital Partners LLC, acquired Trident Beverage Inc, a Houston-based food service contractor. |
Evergage Inc | Salesforce.com Inc | | Salesforce.com Inc acquired Evergage Inc, a Somerville-based software publisher. |
West Dermatology Co | Sun Capital Partners Inc | | Sun Capital Partners Inc acquired West Dermatology Co, an Irvine-based owner and operator of dermatology clinics, from Cosmetic Laser Dermatology, in a leveraged buyout transaction. Terms were not disclosed. |
Zen Cloud Tech Inc | TenPearls LLC | | TenPearls LLC acquired Zen Cloud Technologies Inc, a Burlingame-based provider of computer systems design services. |
Compex Legal Services Inc | Windjammer Capital Invs Llc | | Windjammer Capital Investors LLC acquired Compex Legal Services Inc (CLS), a Torrance-based provider of data processing and hosting services, from Waud Capital Partners LLC (WCP), in a secondary buyout transaction. Originally, WCP acquired CLS in a primary buyout transaction. |